APG Asset Management N.V. Has $70.10 Million Stock Holdings in Blackstone Inc. $BX

APG Asset Management N.V. grew its holdings in Blackstone Inc. (NYSE:BXFree Report) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 410,300 shares of the asset manager’s stock after acquiring an additional 7,400 shares during the quarter. APG Asset Management N.V.’s holdings in Blackstone were worth $70,100,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BX. Brighton Jones LLC grew its holdings in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Blackstone by 9.3% in the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares in the last quarter. United Bank raised its stake in shares of Blackstone by 14.7% during the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after purchasing an additional 1,729 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Blackstone by 156.8% in the second quarter. Hantz Financial Services Inc. now owns 583 shares of the asset manager’s stock valued at $87,000 after buying an additional 356 shares in the last quarter. Finally, Keybank National Association OH raised its position in Blackstone by 2.9% during the second quarter. Keybank National Association OH now owns 16,479 shares of the asset manager’s stock worth $2,465,000 after acquiring an additional 472 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

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Blackstone Stock Performance

Shares of NYSE BX opened at $113.22 on Friday. Blackstone Inc. has a one year low of $111.04 and a one year high of $190.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75. The firm has a market cap of $83.61 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 0.97 and a beta of 1.76. The stock’s fifty day moving average price is $143.94 and its two-hundred day moving average price is $154.61.

Blackstone (NYSE:BXGet Free Report) last announced its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the business posted $1.69 earnings per share. Blackstone’s quarterly revenue was up 41.4% on a year-over-year basis. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were paid a $1.49 dividend. This represents a $5.96 annualized dividend and a dividend yield of 5.3%. This is an increase from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. Blackstone’s dividend payout ratio is presently 153.61%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the completion of the transaction, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. The trade was a 99.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 1,146,789 shares of Blackstone stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $26.16 per share, for a total transaction of $30,000,000.24. Following the completion of the acquisition, the insider owned 16,716,249 shares in the company, valued at $437,297,073.84. This represents a 7.37% increase in their position. The SEC filing for this purchase provides additional information. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

BX has been the topic of several recent analyst reports. UBS Group lowered their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. TD Cowen dropped their price objective on Blackstone from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Piper Sandler reduced their target price on Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $195.00 price target on shares of Blackstone in a report on Friday, January 30th. Finally, BNP Paribas Exane decreased their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $169.38.

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About Blackstone

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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